Glen Morgan, West Virginia Property Taxes
The median property tax rate in Glen Morgan, WV is 0.72%, aligning with the West Virginia state median but significantly lower than the national median of 0.99%. With the median home value in Glen Morgan at $53,000, the typical annual property tax bill amounts to $376, which is considerably less than the national median of $2,690. Property taxes in Glen Morgan are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Glen Morgan's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Glen Morgan or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen Morgan, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Glen Morgan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen Morgan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen Morgan to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Glen Morgan, West Virginia
Property taxes in Glen Morgan, West Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Morgan is 0.57%, which is lower than both the West Virginia state median of 0.59% and the U.S. national median of 0.99%. Local government entities within Glen Morgan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Morgan estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Glen Morgan's effective property tax rate to other counties in West Virginia and the national median. For comparison, the highest median property tax rate in the region is 0.57%, while the lowest median tax rate is also 0.57%. Understanding how these cities compare with Glen Morgan provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Morgan Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen Morgan, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25813 | 0.31% | 0.72% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Glen Morgan, West Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Glen Morgan, West Virginia. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Raleigh County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Glen Morgan, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Glen Morgan is $53,000. The 25th percentile tax bill is $157, while the 75th percentile tax bill is $582, and the 90th percentile tax bill is $857. The highest median tax bill in the area is $376 in the 25813 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Glen Morgan, West Virginia
Source: Ownwell
$6,300
$72,500
$138,700
Average Glen Morgan Assessed Value
$53,000
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen Morgan, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25813 | $3,280 | $23,100 | $53,000 | $77,675 | $113,860 |
Source: Ownwell
Property Tax Bills Across Glen Morgan, West Virginia
In Glen Morgan, Raleigh County, WV, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For a median home price of $53,000, the tax bill can vary significantly. Homeowners in the 25th percentile are looking at a tax bill of around $157, while those in the 75th percentile face a tax bill of approximately $582. At the 90th percentile, the tax bill can reach up to $857. Several factors influence these tax bills, including the assessed value of the property, the local tax rate, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Raleigh County offers a relatively lower tax burden, which can be an advantage for homeowners. This lower tax rate can make homeownership more affordable, but it also means that local services funded by property taxes might receive less financial support. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Glen Morgan Tax Bill
$376
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen Morgan, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25813 | $63 | $157 | $376 | $582 | $857 |
Source: Ownwell